IMPACT OF EXCHANGE RATE AND FOREIGN DIRECT INVESTMENT ON AGRICULTURAL PRODUCTIVITY IN NIGERIA

Enilolobo, S. O. (), Esedeke, J. F., (), Nnoli, I. T. () and Hassan, C. O. ()
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Enilolobo, S. O.: Department of Economics Accounting & Finance, Postal: College of Management Science,, https://www.afarng.org/mjms/
Esedeke, J. F.,: Department of Economics Accounting & Finance, Postal: College of Management Science,, https://www.afarng.org/mjms/
Nnoli, I. T.: Bells University of Technology, Ota, Nigeria., https://www.afarng.org/mjms/
Hassan, C. O.: Bells University of Technology, Ota, Nigeria., https://www.afarng.org/mjms/

Multidisciplinary Journal of Management Sciences, 2020, vol. 2, issue 2, 31-46

Abstract: This study conducted an empirical investigation on the impacts of exchange rate and FDI on agricultural productivity in Nigeria, from 1986-2018. The study made use of the vector autoregressive (VAR) method for analysis. Test for unit root was conducted using the augmented dickey fuller statistic, while Johansen statistic was used to test for the long-run relationship among the data sets. The data were stationary and had a long-run relationship. Results from the study found that FDI and foreign exchange rate impact negatively on agricultural output in Nigeria. With this, the study concluded that an increase in the exchange rate is detrimental to agricultural output in Nigeria, while FDI increases have inhibited productivity of the agricultural sector in the country. The study recommends that the economy of Nigeria should be re-diversified to improve the value of the Naira and ensure that inflow of foreign direct investments aid productivity in the agricultural sector

Keywords: Agricultural Productivity in Nigeria; Exchange rate and FDI (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ris:amjoms:0016

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